92 Quotes by Tom Schrader
- Author Tom Schrader
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I wouldn't discount the likelihood that next week will be flat to lower. It's a holiday week, volume will be light, and after four up weeks we'll need a pause.
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Caterpillar has the Dow down, but everything else is up a little bit, particularly the techs,
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Basically we're seeing a bounce after yesterday's debacle. I think the market is getting really oversold and we're probably due to see a bigger bounce back pretty soon.
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Given all the negatives thrown at the market, it's amazing how well it's doing.
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Friday's payrolls number is certainly the week's biggest news, and you may see some hesitation ahead of that.
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I don't think people have set aside dollar concerns long-term or even intermediate-term, but definitely right now, short-term, people have calmed down about it.
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Given the severity of the downturn, I would think we'll get a little more of a bounce over the next few weeks, but I wouldn't expect much beyond that. I think it's going to be a long, hot summer.
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We're primarily up because we're oversold and oil is down. The breadth is decent, but the volume is low. There's just not much of a catalyst to move us.
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We're off our highs, but we're trying to work it back higher again.
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